Historic Transfer of Wealth from the Few to the Many

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Historic Transfer of Wealth from the Many to the Few

  • Seminal study by RAND Corporation shows that if equitable income (income of bottom 90% matches growth in GDP) were present, people would be making 68% more in 2018, or about $2.7T more total. This is about $50T lower in total since 1975. [1]
  • We chose to cut taxes on billionaires and to deregulate the financial industry. We chose to allow CEOs to manipulate share prices through stock buybacks, and to lavishly reward themselves with the proceeds. We chose to permit giant corporations, through mergers and acquisitions, to accumulate the vast monopoly power necessary to dictate both prices charged and wages paid. We chose to erode the minimum wage and the overtime threshold and the bargaining power of labor. For four decades, we chose to elect political leaders who put the material interests of the rich and powerful above those of the American people. - [2]

Historic Transfer of Wealth from the Few to the Many

Risks

  • Political Stress Indicator - [3]

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